• Mitt Romney Opposed, Supported and Invented the Auto Bailout

    Mitt RomneyIn an oft-cited February 2012 opinion piece in the Detroit News, Romney called Barack Obama's decision to lend billions to Chrysler and General Motors an example of "crony capitalism on a grand scale" and wrote, unequivocally, "I believe that without [Obama's] intervention things there would be better."

    This consistent critique of the Obama administration turned problematic once it became clear that hundreds of thousands of jobs had been saved by the bailout, but lest anyone fret, Romney adviser Eric Fehrnstrom has a solution.  Although the Romney campaign may not be fully committed to automobile manufacturing, at least they've created a whole bunch of jobs at the Etch-A-Sketch factory

    One of Mitt Romney's top advisers said Saturday that President Obama's decision to bailout Chrysler and General Motors was actually Romney's idea.

    "[Romney's] position on the bailout was exactly what President Obama followed. I know it infuriates them to hear that," Eric Fehrnstrom, senior adviser to the Romney campaign, said.

    "The only economic success that President Obama has had is because he followed Mitt Romney's advice."

    Given Romney's passion for firing people, it's amazing Fehrnstrom is still a senior adviser. Apparently the only thing Romney won't shake-up is his campaign staff.

    As for the claim of intellectual paternity, at least Al Gore's invention of the Internet paved the way for LOLcats and Chocolate Rain. Romney "invented" a complicated financial restructuring that consolidated dealerships, re-opened collective bargaining agreements and swapped bondholder stakes for shareholder equity. Mitt Romney: the boring man's Al Gore.

    Photo by Jessica Kourkounis/Getty Images News/Getty Images

    Tags: Auto Industry, Barack Obama, Detroit, Mitt Romney, Republicans


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